Market/Finance News: Exportation in South Australia grew rapidly over last 12 months

By the resi financial blog team, 09 April 2014

As the nation's economy continues to grow, more people are beginning to move into the major industry centres in order to make a living for themselves and create a life for their families. Watching these regions and finding the emerging hotspots is a great way to help plot potential areas for property portfolio expansion.

For example, the latest data from the Australian Bureau of Statistics has highlighted the rising degree of South Australian exports over the past 12 months, with a surge of international interest in the region illustrating potential opportunity for investment. In fact, the state achieved its highest 12-month export value over the last year, rising to a total of more than $12.1 billion.

Overseas exportation from the state rose by 14 per cent over the 12 months to February, outpacing the rest of the nation. National exports only grew 9.2 per cent over the same period.

Manufacturing, Innovation and Trade Minister Susan Close said the state exceeding the $12 billion export mark was a huge result for the region, which is set to continue growing in the coming years. This is the sixth consecutive 12-month figure to rise about the $11 billion level.

"In a very challenging international market, South Australia has outperformed every other state and territory in the country. This record high is a credit to South Australia's exporters, across a range of industries," said Ms Close in an April 3 statement.

"This achievement is even more remarkable in the face of an Australian dollar that is still holding above US90 cents. The result also reflects the South Australian Government's continued support for our export sector through specific strategies for China and India."

As the industry grows and employs more people, the demand for housing and accommodation will grow in the region - especially as the nation's population continues to grow.